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Guaranty Financial gets deadline from Fed
From staff reports
The Daily News
Published April 10, 2009
Federal regulators have given Guaranty Financial Group until May 21 to improve the financial position of its bank, which operates branches throughout the county.
Austin-based Guaranty Financial in filings with the Securities and Exchange Commission, said it had been ordered to improve the ratio of its capital to assets. If the company fails to improve its position, it will have to find another bank to acquire its assets or voluntarily liquidate them.
Regulators directed Guaranty to maintain 8 percent core capital ratio and an 11 percent risk-based capital ratio. The company disclosed in its filings it had not met those numbers.
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